UPDATE 1-OSI Pharma to consolidate US operations at new site

* Sees about $15 mln in yearly operating synergies

* Sees related expenses in 2009 and first half of 2010

July 7 (Reuters) - OSI Pharmaceuticals Inc (OSIP.O) said it plans to consolidate its U.S. operations onto a single site by the fourth quarter of 2010, and sees related expenses in 2009 and first half of next year.

The company expects to consolidate about 350 of its U.S. employees to the new facility at Ardsley, in Westchester County, New York, in the second half of this year, it said in a statement.

OSI said it agreed to buy a 43-acre site for $27 million, and expects to realize about $15 million yearly in operating synergies.

The company will receive incentives from New York State in connection with the move, it said.

OSI shares closed at $27.90 Tuesday on Nasdaq. (Reporting by Shailesh Kuber in Bangalore; Editing by Unnikrishnan Nair )